The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-12-07
THE TAR|FF
THE. BURDEN OF HIS SONG.
President Cleveland's Message to
Congress
Points Out the Evils OF the Pro.
tectiye System
AS Grover Secs Thenl..-The Ex.
ploded Theories (
OF AN OBSOLETE SCHOOL
OF Political Economists Brought
Forward. a.4
'l31 Naa r-sSr .. H ra -l..s s--lss7z-lr-srrs
A Document that is Commercially
Brief

ur Drlcl
And Frank Withal, but Has Few
Other Merits.
WASHINGTON, D. O., Dec. G.-rollo owing
is PRECEDENT Clevolapd'a meausge, present
cd to Congress to-day: E'H
To the C0nGreii otths United States:
You are confronted at the threshold ol
your Legislative du!ieu, with condition o.
the national 6IancOs which imperatively
demands Immediate and careful consider
alton. The amount Of money annually
e1ac!ed, through the operation Of present
laws, from ths industrles and necessities
OF tho people, largely exceeds the SUE
necssaary 10 meo. The e1penssz OF tht
Government. When ws consider that the
theory Of our institutions guarantees te
every citizsn the full enjoyment! of all the
fruits Of his industry and enterprise, with
only such deduction az may be his ehsre
towards the careful and economical main.
tenance OF the Government. which pro
tects him, it Is plain that tho exaction oil
more than this Is indeicnsible ex.ortiou,
and culpabls betrayal Of American fair.
ness and juatica. This wrong inflicted
upon these who bsar tho burden of na.
tioual taxation, like other wron.s, multi.
plies brood OF evil Consequences. The
public treasury, which ehould only exist
as condnitconveying the peoples tribute
10 It's legitimate objects Of expenditure,
becomes boarding place for money need.
lessly withdrawn from trade and the peo.
lple's use, thus crippling our national
ener2ier, auepsndipg our country's dsvol.
opment, preventing investment in pro.
iduc.ivs enterprise, threstanirg financial
disturbance, mad inviting schemea ol
public plumber.
! This condition Of our treasury is not
talsogethsr nsw, and |. has nors tnsl
once Of late been submitted to Ito peoples
Representatives in the Congress, vino alone
can spp!y remedy. And ye. the nitua.
lion still continues with aggravated in.
ciIen,s, more thsn ever pyceasing fnap-
cinl convulsion and wide epread discr.er.
1t will not do 10 neglect this situation
because liza dangers ore not now pGIblbly
immineE. acd apparent. They exist uone
tho lcso certainly, and await the unforeseen
and unexpected occasion whom suddenly
they will be precipitated upon ue.
On the 30 h Of June, 1885, the excens oil
revenues over public expenditures ate,
complying with the annual requirement
Of the einking fund act, was SIT $780, ,735 81
during the year ended June so 1856, sucn
excess amounted to s40, 0,405 5A5 20; and
during the year ending Juna 80, 1887, II
reached the sum OF s55. .567,S49 81.
STEPS TO 'REL1EvE TuR PRESSURE"
The annusl contributions 10 the sinking
fund during tho three yeara above npecl.
fed, amounting in the aggregate to $685..
O5S. 800 81, end deducted from the gurplua
as stated, were made by calling in for tho
purpose, outstanding 8 per csnt bonds Of
ths Govalnmeut. During the ak monthH
prior to June 30, 1887, the esurplus revenue
had grown 60 large by repestsd nccumu.
lations, anc 1t Was feared the withdrawal
OF this great sum OF money needed by the
people, would so aCec. the business Of the
country that the sum Of S79.S64, 100 Of
such surplus WIS applied to the payment
OF the principal and interest Of the three
per cent bonds still outstanding, and
which vera then payable at the option Of
the Government. Tho precarious cordi-
ton OF financial affairs among the people
still needing roliei, immsdia!sly after the
3Osh day of June, 1857, the remainder oi
the three per cent bonds thsn outstand.
ing, amounting with principal and interest
to the sum OF SIS, SIT 500, were called In
and applied to the sinking fund contribu.
ton for the current fiscal year. Notwith.
standing these operations Of the Treasury
Department representations Of distress In
business circleu not only continued bu,
|increased, and absolute peril seemed al
hand. 1u these circumstan Gas the contri
button to the sinking fund for the current
fiscal year wxs at onco completed by the
expenditure OF 6S42S3 55 in the pur
chase Of Government bonds not yet due
bearing four and four and a.half per con-
interest, the premium paid thereon aver
aging about twenty.four per cent for the
former ard oight per cent for the latter
In addition to this tho interest accruine
Iduring the current year upon the out
stauding bonded indebtedness Of the Gov
ernment was to some extent anticipated
and banks nclected as repositories Of pub
lie money were permitted to somewhat in
crease their deposits.
4 TuE SURPLUS GROWS.
| Whils tho expsdients thus employed t
release 10 the people the money lying id!,
lin the Treasury, served to avert immediate
danger, our surplus revenucs have con
ltinued to accumulate, tho excess for tn
present year amounting on the first day o
Decembertos SIS, ,25S, ,7Ol 10 and ealimatedt t.
roach the Sum Of Sll3 600, 600 on the 30sl
J OF June next, at which date 1t is expecte.
THAT thiu sun, added to prior accummuls
tions, will swell tho surplus in the Treas
ury to Sl40, 100000. There aeoms to b
. no assurance that, with such Withdrawal
from the use ol the peoples crculatin,
medium. our business community may no
in the near future be suhiscted 10 th'
same distress which was quiet lately pro
; duced from the shu1o cause. And Will
. the iunctiono Of cur National Tren5ur
should be few and simple, and while 1t
best condition would be reached, l be
lleve, by its entire diaconnoction with prl
. yate business iuterents, yet whom. by
perversion OF It's purpose, It idl
holds money uaelessly subtract
ed from the chaunela Of trade
I there geems TO be rea.on for the clair
, that some legitimate meaur shculd be dt
, vised By tho Government to restore In q
emergency, without waste or extravaganza
! such money to its place among the people
! II such an emergency arises there no
!. exla!a no clear end undoubtcd e1ecutiv
power Of rs!ief. Heretofore the rederal
tion Of three per cent bonds, which WEI
:. payable at the option oil the Government
!. hiss afforded a meanu 10. the disburs
Q ment OF the e1cees Of our .revonues; bt
i these bonds have all been retired, an
There aye no honda outstanding the pa!